Today's (03-10-2011) downgrade of Spain's credit rating by Moody's should not be a surprise, not only because of its Socialist government, unionist spending and 21% unemployment, but because 3 of the 5 credit-risky Europe PIIGS country's, including Spain, have heavily subsidized High Speed Rail (HSR) boondoggle waste. Worse, Japan, also recently downgraded by S&P because its debt exceeds its GDP by a factor of 2 has an extensive HSR network and its economy, too, is in the doldrums.  The Japanese expanded HSR during the past few years further in a failed effort to "put people to work"--just like Spain.  HSR won't work in the US.
 Japanese and Europe HSR manufacturers have also learned that the HSR technology they passed to China in building China's first HSR systems, has been enhanced and turned against them in current bidding. China is lowest cost bidder, of course.  The HSR danger for US misguided (union) "supporters" who are motorists is that this Third-World transport method is so heavily subsidized that nearby toll roads are required--and more to support them.  This is true in Europe, Asia, and soon Latin America. I believe this is the plan in the US with cagey words in the draft 6-year transportation re-authorization bill of so-called Public Private Partnerships(PPP) and pushed by reduction in VMT--else it will cost us more to drive. In nearly-bankrupt California, Democrat/Public Union/Enviros are quietly planning, and meeting, to install and convert lanes, and to make freeways into toll roads starting on at least 4 routes near HSR (SR 152, US101, and more to come), firstly to increase the cost of driving--to inhibit VMT, raise revenue for their anti-freeway pro-expensive, subsidized, tax-toll-fee-fine funded HSR agenda, and, by squeezing parallel road use in an effort to force HSR ridership.  The tax-toll cost to guarentee PPP's toll road revenue, for the companies that build or own them, from motorists would jump from the current .04cents per mile up to $1.00 (So Cal SR91, soon I-15, and others).  Democrats salivate! More wasteful pet projects to generate slave union labor, more $$ for HSR, more debt, more campaign contributions by rail and consultant vendors. .
Congress MUST KILL Any and All funding for HSR or new Toll Roads will come.  Toll Roads, are not in the Interstate heritage of simple, fuel-funded built-in fair taxation--dedicated mostly for roads, the revenue source, to help the middle class get and keep jobs and income...not take away more income.  
In 1969, Congress killed US government  funding of the SST (SuperSonic Transport--aka the late Concorde, Russia's late TU-144)  when US aricraft manufacturers would not fund it themselves as not viable. 
HSR is not viable in the US.
HSR presents a clear and present danger to motorists rights, wallets, and the closed-loop principle that those who pay for roads benefit from them.  Roads are self-funded,  economic growth engines (as noted in AHUA's great website, http://www.highways.org/).  Motorists should  not be sources of alternative taxation for wasteful projects by uncontrolled, unvoted tolling, fees, fines, penalties, excise and sales taxes, etc. peddled by termed-out former legislators looking for another way to pick taxpayer/motorist pockets for their own benefit.

Please ask  our Congressman not to fund any HSR.  HSR is like black tar heroin to politicians desperate to take our hard earned money. HSR will drive the US  into worse deficits--and more debt with China if/when China wins HSR contracts.  Motorists must not let this HSR 'Camel in the tent".  There will be no end to it. As we are seeing in California already.
Not a dime for HSR or Toll Roads. Motorists pay more than enough already for our roads.